Capital Ideas Evolving

Capital Ideas Evolving is a book on finance by Peter L. Bernstein. It was released in May 2007. Capital Ideas Evolving describes how the core concepts of modern finance developed between 1952 and 1973 transformed the investment world in the face of unrelenting attacks from critics and tumultuous economic events. Modern financial theory now drives the management of investment portfolios and global trading activities. The core idea that all investm... more

Capital Ideas Evolving is a book on finance by Peter L. Bernstein. It was released in May 2007. Capital Ideas Evolving describes how the core concepts of modern finance developed between 1952 and 1973 transformed the investment world in the face of unrelenting attacks from critics and tumultuous economic events. Modern financial theory now drives the management of investment portfolios and global trading activities. The core idea that all investments reflect a trade-off between risk and expected returns is widely accepted and is the starting point of investment decision-making. Similarly, the idea that the market can’t be beat is now conventional wisdom, even among those who claim to possess an expertise to outperform market averages. In addition, modern investment theory has spawned new investment and risk management structures: most notably, hedge funds and derivatives, both of which have contributed greatly to the globalization of capital. But while modern investment theory is... less